Clinton Savings Bank is offering a special CD and IRA CD with a 2.51% APY and a term of 51 months. A 2.61% APY is available for customers with a Preferred Checking Account. Minimum deposit is $500. These rates are listed in the bank's rates page as of 8/30/2011.
According to the bank's truth in savings disclosure, the early withdrawal penalty is 6 months of interest on the amount of principal withdrawn for all CD maturities of one year or more. The grace period is 10 calendar days after the maturity date.
The bank also offers a reward checking account called Total Access Checking. Back in 2007, it had a 6.01% APY for balances up to $50K. The rates have fallen quite a bit since then. It's now 1.90% APY for balances up to $25K. Please refer to my Clinton Savings Bank reward checking review for more details.
There's an online application provided by Andera that allows ACH funding. However, the application only allows residents of Massachusetts to apply.
Clinton Savings Bank Branches are located in the Massachusetts cities of Berlin, Bolton, Boylston, Clinton, Sterling and West Boylston.
The bank's overall health score is 2 stars (out of 5) with a Texas Ratio of 36.63% (below average) based on June 2011 data. Please refer to our financial overview of Clinton Savings Bank for more details. The bank was established in 1851 and has been a FDIC member since 1985 (FDIC Certificate # 90181).
How This CD Rate Compares
This 51-month term is just 3 months longer than the typical 4-year term. These special CD rates are higher than the best nationally available 4-year CD rates. For credit unions, the best 4-year CD rate is 2.45% APY ($25K minimum) at Alliant Credit Union. For banks, the best 4-year CD rate is 2.40 APY at Airbanking.
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.